Mercury Systems Inc. develops secure open-architecture processing technology for aerospace and defense missions. The company’s Mercury Processing Platform spans signal processing, mission computing, sensor processing, command and control, communications, solid-state data recording, and edge processing applications used by defense prime contractors, the U.S. government, original equipment manufacturers, and commercial aerospace customers.
Recurring Mercury Systems news covers quarterly results, bookings, backlog, cash flow, and program demand, along with contract awards tied to space, strategic weapons, satellite, and electronic warfare applications. Company updates also include production capacity actions, specialized manufacturing capabilities such as the SolderMask acquisition, and product activity around radiation-hardened or radiation-tolerant storage and processing subsystems, RF modules, ARES radar environment simulators, and mPOD jammer training pods.
Mercury Systems (MRCY) has launched the Avionics Modular Mission Platform (AMMP), a 3U OpenVPX™ mission computer that is SOSA aligned and DAL-certifiable. AMMP features Intel® Core™ i7 processors and boasts 40x the performance of existing avionics systems while consuming 50% less power. Designed for various platforms, including aircraft and UAVs, AMMP aims to enhance decision-making for pilots through advanced AI capabilities. This system aligns with the Department of Defense's modular open systems approach, potentially increasing operational efficiency and reducing long-term costs.
Mercury Systems Inc. (NASDAQ: MRCY) and Lockheed Martin (NYSE: LMT) have announced a collaboration to develop sensor processing technologies at Mercury's facility in Geneva, Switzerland. This contract, valued at $40 million, is part of Switzerland's procurement of 36 F-35A Lightning II aircraft under the Air 2030 program. The partnership aims to enhance airborne defense systems and support local industry, ultimately benefiting Switzerland's economy and contributing to secure military technology development.
Mercury Systems reported strong third-quarter results for fiscal 2022, with record bookings of $295 million, a 41% year-over-year increase and a book-to-bill ratio of 1.17. The backlog rose to $996 million, positioning the company for future organic growth. However, revenues slightly declined to $253.1 million from $256.9 million year-over-year, with net income dropping to $4.1 million or $0.07 per share. Adjusted EPS was $0.57. The company has increased its revolving credit facility to $1.1 billion to support growth strategies.
Mercury Systems (NASDAQ: MRCY) announced a $16.8 million contract from a leading defense contractor to provide BuiltSECURE™ servers for ground-based applications, with a potential lifetime value of $25 million. The contract, secured in fiscal Q3 2022, is expected to deliver over several quarters. These rugged servers, designed for harsh environments, offer high performance while ensuring data security and integrity. This partnership enhances Mercury's role as a trusted technology provider in the aerospace and defense sectors.
Mercury Systems (NASDAQ: MRCY) recently held a ribbon-cutting ceremony for its expanded microelectronics packaging center in Phoenix, Arizona. This state-of-the-art facility aims to strengthen the company's U.S. manufacturing capabilities for trusted, secure microelectronics. The expansion is part of Mercury's role in the Department of Defense's SHIP program, highlighting its commitment to domestic production. Attendees included Congressman Ruben Gallego and Arizona Chamber of Commerce CEO Danny Seiden, showcasing support for local economic development and national security interests.
Mercury Systems (NASDAQ: MRCY) announced its selection to provide advanced packaging for the Department of Defense's SHIP program, aimed at enhancing U.S. microelectronics capabilities. The contract, awarded by NSWC Crane, facilitates collaboration with industry leaders to develop secure and cost-effective technology. The company highlighted its ongoing investment in microelectronics and will open a new packaging facility in Phoenix on April 20, 2022. This initiative aligns with the DoD's commitment to accelerate innovation while engaging trusted partners.
Mercury Systems (NASDAQ: MRCY) announced that CTO William Conley and GM Ken Hermanny will serve on the newly established SOSA Consortium Advisory Board, with Conley as chair. This board aims to promote the adoption of the Sensor Open System Architecture™ (SOSA) standards, which align with the Department of Defense's goals to enhance defense system development and integration of advanced technologies. The initiative seeks to improve modular design solutions for military applications, benefiting from the expertise of advisors from various sectors.
Mercury Systems Inc. (NASDAQ: MRCY) announced a $14 million order from a major defense contractor for system-in-package (SiP) assemblies, slated for delivery over the coming quarters. This order aligns with Mercury's commitment to onshore manufacturing, addressing Department of Defense (DoD) needs for secure microelectronics. The company emphasizes that their investments in advanced SiP technology facilitate innovative solutions for evolving defense requirements. This delivery reflects Mercury's strategic position in providing trusted solutions for defense applications.
Mercury Systems Inc. (NASDAQ: MRCY) will announce its third quarter fiscal year 2022 financial results on May 3, 2022, after market close. Management will hold a conference call at 5:00 p.m. ET the same day to discuss the results, business highlights, and outlook for the company. This session will address key financial developments and trends, including earnings forecasts. Participants can register online for the call, with a replay available two hours post-event for six months.
Mercury Systems (NASDAQ: MRCY) has partnered with VAST Federal to develop rugged storage solutions optimized for military applications. The collaboration will leverage VAST's Universal Storage platform, enhancing data capture and AI capabilities in constrained environments like aircraft and submarines. Mercury's systems will provide improved performance, easier serviceability, and robust data protection for critical operations. Key features include high-performance edge workload management, rapid backup and recovery, and compliance with defense industry size, weight, and power requirements.